Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
North Korea Nuclear Test: After the continuous launch of ballistic missiles by North Korea, the U
Well-known actor Vijay officially unveiled the flag and symbol of his party Tamilaga Vetri Kazhag
This year floods and landslides have caused great destruction in Pakistan. In the remaining grave
On Tuesday, the Congress party accused Prime Minister Narendra Modi and the Central Government of
US President Donald Trump said on Friday that Venezuela had offered Washington 50 million barrels
Corona havoc in UP: more than 27 thousand cases surfaced on Saturday, 120 died
On Saturday, there was a slight decrease in the number of corona infections in UP. While 27426 ca
UP CM Yogi Adityanath also got corona, took the first dose of vaccine on April 5, 9 days ago.
Uttar Pradesh Chief Minister Yogi Adityanath Corona has been found infected. He isolated himself
Congress On Unemployment: Congress has attacked the government due to rising inflation, unemploym
The Gujarat High Court has strongly reprimanded the Morbi civic body for the 137 deaths in the Mo
IPL 2026: If Not Ayush Mhatre, Then Who? Ruturaj Gaikwad Himself Reveals CSK's New Opening Pair
Chennai Super Kings captain Ruturaj Gaikwad has revealed his team’s opening pair ahead of I
